Shares of Paytm rallied 5.5 per cent to a high of Rs 726 on the BSE as the stock reacted positively to the company's Q4 performance. Paytm had sharply narrowed down its losses in Q4FY23 to Rs 168 crore as against a loss of Rs 763 crore in the corresponding quarter a year ago.

At 09:35 AM, the stock had pared some gains but was still up over 3 per cent at Rs 712. The counter had seen trades of around 45,000 shares as against the two-week average volume of around 1.96 lakh shares on the BSE. Meanwhile, the S&P BSE Sensex was up 0.7 per cent at 61,498.

Shares of digital financial services firm One97 Communications, which owns Paytm, rallied 5 per cent to Rs 655.30 on the BSE in Monday's intra-day trade amid heavy volumes on report that telecom tycoon Sunil Mittal is eying stake in the company.

In the past two trading days, the stock of the fintech company has surged 8 per cent in an otherwise weak market.

Banking regulator RBI has put a pause on onboarding of online merchants by Paytm Payments Services, even as the company said it will have no material impact on its business, according to a regulatory filing.

One97 Communications (OCL), which owns the Paytm brand, had proposed to transfer the payment aggregator services business undertaken by it to Paytm Payments Services (PPSL) in December 2020 to comply with payment aggregator (PA) guidelines of the Reserve Bank of India (RBI) but the banking regulator had rejected its application.

Fintech major Paytm has appointed Anuj Mittal as Vice President, Investor Relations, according to a source close to the developments. Mittal would be reporting directly to Paytm President and Group CFO Madhur Deora.

This comes at a time when Paytm's stock has been pummelled, in line with the fate of many other technology stocks globally. The fintech company's shares were trading at Rs 538 at the time of publishing on Tuesday, losing around three-fourths of the value after a blockbuster initial public offering at Rs 2,150 apiece in November last year.

Shares of One97 Communications, the parent company of digital payments major Paytm, continued to remain under pressure and hit a new low at Rs 550.50, down 3 per cent on the BSE in Tuesday’s intra-day trade on the back of heavy volume.

In the past one month, the stock has tanked 32 per cent owing to persistent negative news flow. In comparison, the S&P BSE Sensex was down marginally by 0.21 per cent during the same period. The stock hit a record high of Rs 1,961.05 on November 18, 2021, in intra-day trade, but failed to touch its issue price post listing.

One97 Communications, the parent company of digital payments major Paytm, dropped out of the 100-most valued companies list on the BSE as the stock price of the company tanked a whopping 20 per cent in the last two trading sessions.

At 10:48 am; with market capitalisation (market cap) of Rs 40,863 crore, Paytm stood at 112th position in overall ranking of the BSE listed companies. The company lost market cap of Rs 60,537 crore since it's listing day. The company had made its market debut on November 18, 2021. It was at the 51th position in overall ranking with market cap of Rs 1.01 trillion.

The collapse in the shares of Paytm following India’s largest initial public offering is proving an expensive lesson for the firm’s early backers.

Paytm shares have tumbled 58% since the stock listed on Nov. 18. That’s cut the valuation of its parent One 97 Communications Ltd. to $7.8 billion from $20 billion.

India’s digital payments giant Paytm is set for another bout of scrutiny on Saturday when it reports earnings in the wake of its record-breaking initial public offering and tumultuous stock market debut.

Ahead of the results, Paytm’s shares dropped as much as 7.7% in early Mumbai trading on Friday. While the stock had jumped about 32% over the last three days, it is still well below the price set in the $2.5 billion IPO as investors continue to weigh its longer-term prospects.

Paytm Payments Bank Limited (PPBL) on Tuesday launched a physical prepaid card that is directly linked to a user’s Paytm wallet. Users can just top up the wallet to use the card and do not need to create a separate account. The card also enables the withdrawal of money from ATMs.

Satish Gupta, managing director and CEO of Paytm Payments Bank, said, The launch of the Paytm Transit card will enable millions of Indians with the power of one single card that takes care of all transportation as well as banking needs.

Digital payment and financial services firm Paytm plans to deploy FASTag-based parking services across the country after having launched first such project with Delhi Metro Rail Corporation.

Paytm Payments Bank Ltd (PPBL) on Monday said it has enabled the country's first FASTag-based metro parking facility in partnership with the Delhi Metro Rail Corporation (DMRC).

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